Qidong city posts leap in Jan-April used foreign capital
Qidong achieves a surge in the growth of actual use of foreign capital in the Jan-April period. [Photo/WeChat account: qidongfabu]
The actual use of foreign capital of Qidong – a county-level city administered by Nantong in East China's Jiangsu province – soared to $232.95 million in the first four months of the current year, a massive 73.58 percent increase year-on-year, local media reported.
Having targeted at achieving breakthroughs in investment promotions this year, Qidong paid great attention to introducing foreign-funded projects – combining the city's competitive industries with international industry leaders.
These projects were engaged in port heavy machinery, biomedicines, electronic information, semiconductors, new materials and the new energy sectors.
In addition to attracting foreign investment, the city also took the initiative to get in contact with intermediaries such as foreign-funded banks, foreign chambers of commerce and international accounting firms.
By doing so, it efficiently sourced information about foreign-funded manufacturing projects through the resources and professional services of those organizations.
As a result, Qidong has attracted a raft of projects for expansions, relocations and industrial extensions from Shanghai city and the southern Jiangsu area.